• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ethereum Hits Three-Month Peak: How Whale Sales Affect Prices

user avatar

by Giorgi Kostiuk

2 years ago

The crypto market is experiencing a significant surge, with Bitcoin's new all-time high driving altcoin gains, including Ethereum.

Crypto Market Overview

The crypto market has seen a significant surge in the last two days, with Bitcoin reaching a new all-time high of $75K. This rise has also driven some altcoins to new peaks.

Ethereum's Three-Month High

Ethereum has reached a three-month high, prompting many long-term and dormant whales to take profits. Following a 13.75% surge in Ethereum’s price, three ETH holders began selling. Specifically, two holders sold 33,701 ETH valued at $89.72 million.

Whale Activity and Market Impact

The first of these whales sent 25,000 ETH to Kraken, retaining 64,450 ETH. Another whale, dormant for over eight years, sold 8,701 ETH, leaving behind 2,304 ETH valued at $6.48 million. This increased whale activity raises fears of potential sell-offs that could push ETH prices towards correction.

If the current momentum is maintained, Ethereum could register further gains, potentially reaching the $3000 resistance level. However, recent whale sales could trigger a market correction, with prices possibly declining to $2670.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

UK Lawmakers Push for Ban on Crypto Donations Amid Transparency Concerns

chest

UK lawmakers are advocating for a temporary ban on crypto donations to political figures and parties due to concerns about transparency and foreign influence.

user avatarFilippo Romano

ChatGPT Enhances Financial Advice with New Feature

chest

ChatGPT's new personal finance feature enhances financial advice by analyzing users' spending data from the last 90 days to create personalized financial plans.

user avatarEmily Carter

OpenAI Introduces Personalized Finance Feature in ChatGPT

chest

OpenAI has launched a new personal finance feature in ChatGPT that connects to users' actual bank accounts, providing tailored financial advice based on their spending habits.

user avatarTomas Novak

Hana Financial Group Makes Major Investment in Dunamu

chest

Hana Financial Group announced a major investment in Dunamu, acquiring a 65.5% stake for approximately 1 trillion Korean won, marking the largest investment by a South Korean bank in a digital asset company.

user avatarLeo van der Veen

Hana Financial and Dunamu Collaborate on Digital Asset Services

chest

Hana Financial and Dunamu have signed a memorandum of understanding to develop services that integrate traditional banking with digital assets.

user avatarMaya Lundqvist

CME and ICE Push for Federal Oversight of Hyperliquid

chest

CME Group and Intercontinental Exchange are lobbying for federal oversight of Hyperliquid, citing concerns over market manipulation and sanctions evasion.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.